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Bayer’s Agricultural Division Partners With ConsenSys-Backed Startup BlockApps

Bayer CropScience, an agricultural arm of Bayer pharma giant giant, has worked with ConsenSys-backed startup BlockApps since 2018.

The agricultural division of pharmaceutical and life science giant Bayer AG, Bayer CropScience, is collaborating with ConsenSys-backed Blockchain-as-a-Service (BaaS) startup BlockApps. BlockApps revealed the news to Cointelegraph on March 22.

Germany-based Bayer CropScience has been working on a number of blockchain initiatives with BlockApps since early 2018, a BlockApps spokesperson told Cointelegraph.

One of the largest pharmaceutical firms globally, Bayer acquired American agrochemical and agricultural corporation Monsanto in June 2018.

A BlockApps representative said that more details can be expected during Blockchain for Food and Beverage Supply Chain conference that is set to take place on March 26–27 in San Francisco.

The BlockApps platform aims to provide an interoperable platform for programmable business networks. Founded in 2015, Blockapps Strato was formed from a partnership between ConsenSys and the Microsoft Azure cloud platform in order to build Ethereum (ETH) BaaS on Azure for enterprise clients and developers.

BlockApps is a founding member of the Enterprise Ethereum Alliance (EEA), the world’s largest open-source blockchain initiative. By July 2017, the EEA incorporated more than 150 blockchain start-ups, research groups, and Fortune 500 companies, including JPMorgan and Cisco. BlockApps claims to be the first blockchain company that partnered with all major cloud platforms including Azure, Amazon Web Services, and Google Cloud Platform.

Recently, Colorado representatives and senators filed a bill proposing a study of blockchain use in agriculture. The document proposed the establishment of a blockchain advisory group, and specified potential use cases including product tracking, inventory management and monitoring of in-field conditions.

Earlier in March, Cointelegraph reported that the Malaysian state of Penang was considering the use of blockchain technology in food and agricultural products supply chains to improve traceability.

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Ethereum Co-Founder Joseph Lubin: Blockchain Can Benefit Artists, Journalists

Joseph Lubin said that blockchain-based platforms can give artists more control over how their content is distributed as well as cut out middlemen.

Ethereum co-founder and ConsenSys creator Joseph Lubin said that blockchain technology and decentralization can benefit content creators and journalists. Lubin spoke about different industries that are benefitting from blockchain technology in a video on March 12.

In the video, Lubin said that artists are “set to benefit quite dramatically” from blockchain, as it allows them to attach policies and stipulations for how the content is consumed and shared i.e. derivative works, streaming, public performances, etc. In Lubin’s view, it also allows them to eliminate middlemen:

“I think artists in the music industry on average capture about 11 or 12 percent of the value in the industry and those big record companies are sucking up 70 or so percent. We can replace those record companies with smart contracts on the Ethereum platform.”

Lubin continued that, while there will still be intermediaries such as promoters, they will not be able to “get to a commanding position where they’re extracting enormous rents just because of their intermediary role.”

In regard to journalism, Lubin said that blockchain-driven platforms like Civil could help the “gutted” journalism industry to deliver content directly to the consumer and “return ethics to journalism.” Lubin said that a platform like Civil allows newsrooms to form a code of ethics and stake that security bond on the platform:

“If they break that pledge in some way, their readership, their listenership can call them to task, can challenge their stake and potentially have them bumped off the platform.”  

Earlier this month, Civil announced its official launch, despite a lackluster initial coin offering last year. The platform — which aims to provide an alternative business model to the journalism industry — now allows participants to purchase Civil membership, including CVL tokens which will represent members’ voting power within the Civil ecosystem.

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Over 80 Percent of Total ETH Supply is Held by 7,572 Addresses: Research

Over 80 percent of the total supply of Ethereum’s native token ETH is held by 7,572 addresses, a new report claims.

Over 80 percent of the total circulating supply of Ethereum (ETH) is held by 7,572 addresses, claims a report released by digital asset research company Delphi Digital on March 7.

More precisely, the data contained in the report claim that over 80 percent of the total supply of ETH coins are held by addresses with a balance higher than 1,000 ETH. The number of such addresses adds up to 7,572. The research breaks down the total number of addresses by volume of ETH they contain, stating that 6,490 addresses hold between 1,000 and 10,000 ETH, 923 of them hold between 10,000 and 100,000 ETH, 155 between 100,000 and 1,000,000 ETH and only four between 1,000,000 and 10,000,000 ETH.

In the same document, the company also claims that the price of ETH has dropped an average of 19 percent after each of the past five hard forks, over the following 30 days.

Still, the most recent hard fork before last month’s Constantinople and St. Petersburg updates actually saw the price of ETH decrease by under one percent, which the report suggests is in part due to the decrease in block rewards from 5 ETH to 3 ETH.

The researchers also pointed out that as of March 3, over 2.3 million Ethereum (about 2 percent of the total supply) was present in decentralized finance apps.

Most of the ETH being staked in decentralized finance apps — reportedly 98 percent — is in MakerDAO smart contracts, which permit the creation and destruction of the Maker’s decentralized stablecoin Dai (DAI). The second decentralized finance app with the most staked ETH is the decentralized lending platform Compound, which held roughly 28,500 Ethereum as of March 3.

Lastly, the report also raises concerns over technical risks facing Ethereum in the near future. In particular, the documents points to the alleged centralization of Infura, the infrastructure-as-a-service arm of Ethereum-focused development company ConsenSys.   Infura allows DApp developers to deploy their DApps without hosting their own full node.

However, by using Infura, the report argues, developers rely on infrastructure entirely operated by ConsenSys and hosted by Amazon Web Services, which creates a single point of failure that decentralization is meant to avoid.

The report’s author, Delphi Digital, positions itself as a company aiming to produce unbiased content concerning digital assets and Distributed Ledger Technology (DLT) and to provide analysis services to institutional clients. The company also counts Morgan Creek Digital Assets founder Anthony Pompliano as a member of its board of directors.

As Cointelegraph reported in December last year, Pompliano forecasted that Bitcoin (BTC) had still “lower to go” in the short term before it hit bottom, despite the bull run to above $4,000 that happened at the time. A month before that, he also defined Bitcoin as the world’s best-performing asset over the past ten years.

Another recent report on Ethereum, this time by crypto asset management firm Electric Capital, claimed that Ethereum has the most developers working on its base protocol of all cryptocurrencies, not counting community project developers.

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2019 Stanford Blockchain Conference Spotlights Blockchain Security and ‘Risk’

Blockchain will come under the microscope for a third year next month as Stanford hosts its now annual conference event.

Security and “systemic risk” will form the focus of the third Stanford Blockchain Conference at Stanford University on Jan. 30 – Feb. 1, organizers have revealed.

Continuing the institution’s ever increasing interest in blockchain technology, the three-day event will see presentations and discussions on a variety of technical issues.

Chaired by Stanford professors, among others, the event will see contributions from multiple cryptocurrency businesses, with input from names such as Blockstream, ConsenSys and Polychain Capital.

Talks will come from representatives of industry businesses including Stellar-focused startup Interstellar and smart contracts platform Chainspace.

The conference, which first ran in 2017, “will explore the use of formal methods, empirical analysis, and risk modeling to better understand security and systemic risk in blockchain protocols.”

Organizers wrote as part of the introduction to this year’s event that “multidisciplinary collaboration” is a main theme:

“We aim to foster multidisciplinary collaboration among practitioners and researchers in blockchain protocols, distributed systems, cryptography, computer security, and risk management.”

Stanford has sought to offer students more direct study of blockchain in recent times, in June this year opening a dedicated blockchain research center.

In October, meanwhile, the establishment was rumored to be one of several in the United States investing in crypto funds.

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Ethereum Price Analysis: ETH/USD Bullish Above $100, Test of Resolve

Latest Ethereum Price

At spot prices, bears are not only stress testing the dApp ecosystem but putting to test the resolve of investors and all market stake holders. Of course, its a fall from grace to grass, that dip from $1,400 to less than $100 has been damaging for investors, developers and businesses. ConsenSys—with more than 1,000 employees and in present in 30 countries is believed to be burning $100 million supporting staff and projects mostly from Joseph Lubin stash—is feeling the sting.  Days after calling for resilience, the company announced that they will be laying off 13 percent of its staff.

Read: Crypto Startups Going Bankrupt Amidst Market Crash

Aside from that, news has it that even with these low prices, hackers are now targeting unsecured Ethereum wallets and mining rigs. As reported by our team, hackers have been scanning the network for a week now and their main objective is to pick out port 8545—a JSON-RPC interface used by wallets and mining hardware. The interface depends on the user to set up passwords and if left open, then hackers can exploit that opening and siphon funds.

Also Read: Changpeng Zhao Likens Binance Chain To Ethereum, BNB To ETH

On the development front, the decision by developers to agree and fix a date for Constantinople is something very positive and would go a long way in instilling confidence in the ecosystem preventing project migration to rival networks.

ETH/USD Price Analysis

ETH/USD Price Analysis

On a weekly basis, ETH/USD is down 17 percent in the last week and quite stable in the last day and hour. And even as bears dig in, ETH is down in the excess of 85 percent from 2018 peaks and as Fibonacci retracement rules demand, a natural correction is imminent. This is why traders and investors across the board expect prices to bounce back and close above $100 by the end of the week. Once it does, then it is likely that ETH/USD would expand to $130 or higher. If not, falls to $50 or less will be inevitable.

Trend: Bearish, Minor Accumulation

From left to right, the trend is clear. ETH/USD is bearish and oscillating within a tight $17 range with limits at $100 and $83. Unless otherwise there are gains above $100, bears are in control and considering the rate of recent price erosion, we cannot discount the possibility of prices breaking below $83.

Volumes: Increasing, Bullish

As prices range, three bars are a standout: Dec 7, 1900HRs bull bar—321k versus 179k average, Dec 8—2300HRs bull bar—163k versus 134k average and Dec 9—1500HRs bull bar—130k versus 85k average. All these bars confine price action. In real sense, ETH/USD price action is still oscillating within Dec 7 high-low. Therefore, for buyers to be in charge then we must see strong gains above Dec 7 highs at $100 while falls below its lows would trigger a sell off towards $50.

Candlestick Formation: Bear Breakout

Clearly, bears are in charge but at spot prices, prices are in range mode and accumulating. As aforementioned, bears are in control but if bulls gain momentum and thrust prices above $100 then ETH buyers have a chance.

Conclusion

From the above, this is our ETH/USD trade plan:

Buy: $100—Dec 9 Highs

Stops: $85—Dec 8 Lows

Targets: $130, $160

Breaks below $83 invalidates this trade plan.

All charts courtesy of Trading View.

This is not investment Advice. Do your Own Research.

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